Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 16,208, 4,446 total housing units (homes and apartments), and a median house value of $396,083, Kerman real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Kerman, accounting for 71.83% of the city's housing units. Other types of housing that are prevalent in Kerman include duplexes, homes converted to apartments or other small apartment buildings ( 10.96%), large apartment complexes or high rise apartments ( 8.31%), and a few mobile homes or trailers ( 6.06%).
The most prevalent building size and type in Kerman are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.59% owning and 52.41% renting.
There is a lot of housing in Kerman built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Kerman built between 2000 and later ( 36.56%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.31%). There's also some housing in Kerman built before 1939 ( 3.74%).
In the last 10 years, Kerman has experienced some of the highest home appreciation rates of any community in the nation. Kerman real estate appreciated 119.95% over the last ten years, which is an average annual home appreciation rate of 8.20%, putting Kerman in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Kerman definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Kerman appreciation rates have trailed the rest of the nation. In the last twelve months, Kerman's appreciation rate has been 2.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Kerman were at 2.02%, which equates to an annual appreciation rate of 8.32%.
Relative to California, our data show that Kerman's latest annual appreciation rate is lower than 70% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Kerman differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Kerman - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Kerman real estate investment or home purchase decisions.
$396,083
for California
for nation
4,446
$2,146 / per month